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Key Points: According to Bloomberg, Tether reserves real time data will be made available to the public in 2024. This move represents a significant step towards enhancing transparency and accountability for the world's largest dollar-pegged stablecoin.
Tether, the largest stablecoin issuer, has appointed its current Chief Technology Officer Paolo Ardoino as its new CEO. The move comes as Tether aims to provide real-time transparency into its reserves beginning in 2024.
Tether moves to real-time reserves reporting in 2024 to address transparency concerns over the widely-used USDT stablecoin.
Paolo Ardoino, Tether's incoming CEO, said the stablecoin issuer plans to publish real-time attestation of its reserve starting next year, Bloomberg reported on Oct. 20.
Tether's Chief Technology Officer, Paolo Ardoino, is poised to become the CEO of the $84 billion stablecoin company, Tether Holdings Ltd. This leadership change comes at a crucial juncture for Tether, the largest stablecoin in the cryptocurrency market.
Paolo Ardoino, Tether's chief technical officer and upcoming CEO, said the firm plans to start publishing reserve data in real-time in 2024, according to a report.
Paolo Ardoino, recently promoted to CEO of Tether, said in an interview that the USDT issuer will soon start publishing real-time data on its reserves.
According to Tether's new boss, the firm plans to bring the long-awaited update in the coming year.
Paolo Ardoino, the Chief Technology Officer of Tether Holdings, will become the Tether new CEO, which is now valued at $84 billion. Ardoino will also continue as the CTO of Bitfinex.
Stablecoin issuer Tether will publish real time data on the reserves backing USDT, the industry's largest dollar-pegged stablecoin, according to a Bloomberg report.
As the cryptocurrency world remains abuzz with Sam Bankman-Fried's ongoing FTX fraud trial, another riveting subplot is beginning to unfold. Crypto influencer Dylan LeClair has recently ignited a tweetstorm that questions the staggering amount of Tether (USDT) minted and redeemed by Alameda Research.
USDT, also known as Tether, has become an integral part of cryptocurrency markets since its launch in 2014. Pegged 1:1 to the US dollar, it is the most widely used stablecoin with a market capitalization of over $83 billion as of October 2023.
In the wake of the Bitcoin ETF misinformation, USDT's top wallets swell while its flow to exchanges dwindles, hinting at a crypto flight to stability amid brewing volatility.
Despite the recent recoiling of the Bitcoin price after the fake news of spot Bitcoin ETF approval, BTC is still holding strong in comparison to the rest of the crypto market. At press time, the BTC price is up by 1.9% trading above $28,700.
Thanks to a false news report that was quickly retracted, cryptos soared higher but sustainability now becomes the central concern.
The EOS Network Foundation has described v0.6.0 as a “game-changer” on account of it offering “a rejuvenated DeFi experience, robust technical upgrades, and trustless USDT bridging”.
Tether partners with Israeli authorities to halt cryptocurrency-driven unlawful activities in accounts tied to Israel and Ukraine.
Stablecoin behemoth Tether steps in to assist Israel and Ukraine as global security concerns arise.
Cryptocurrency exchange Coinbase has removed a few dozen trading pairs from its platform to ‘improve overall market health and consolidate liquidity.' Coinbase is paving the way for the U.S.
EOS EVM, the Ethereum-compatible version of the EOS network, has just had a major upgrade. v0.6.0 of the protocol comes bearing a raft of new features and improvements that will make the network more developer friendly.
Tether, the issuer of the Tether (USDT) stablecoin, has taken a decisive stance against terrorism and warfare by blocking 32 wallet addresses in Israel and Ukraine, collectively holding $873,118.
The efforts of Tether, the largest issuer of stablecoin in the crypto market, continue as it announced yesterday via a blog post that it has blocked the flow of 873,000 USDT earmarked for financing terrorist activities for the wars in Ukraine and Israel.
Tether, the global leader in stablecoin issuance, has bolstered its collaboration with law enforcement agencies worldwide. Aiming to stifle cryptocurrency-fueled terrorism and illegal warfare, the company has been notably proactive.
19.4% of the mentioned addresses have been linked to money laundering schemes.
